{"id":163,"date":"2009-03-05T17:04:00","date_gmt":"2009-03-05T21:04:00","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/blogs\/dmckee\/index.cfm\/2009\/3\/5\/Big-bounce-in-Pennsylvania"},"modified":"2009-03-05T17:04:00","modified_gmt":"2009-03-05T21:04:00","slug":"big-bounce-in-pennsylvania","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/big-bounce-in-pennsylvania\/","title":{"rendered":"Big bounce in Pennsylvania"},"content":{"rendered":"<p><object width=\"425\" height=\"344\"><param name=\"movie\" value=\"https:\/\/www.youtube.com\/v\/xnI03cG5jqo&amp;hl=en&amp;fs=1\" \/><param name=\"allowFullScreen\" value=\"true\" \/><param name=\"allowscriptaccess\" value=\"always\" \/><embed width=\"425\" height=\"344\" src=\"https:\/\/www.youtube.com\/v\/xnI03cG5jqo&amp;hl=en&amp;fs=1\" type=\"application\/x-shockwave-flash\" allowscriptaccess=\"always\" allowfullscreen=\"true\"><\/embed><\/object><\/p>\n<p>Casino revenues in the Keystone State leapt 14% from February of Leap Year to this year, at least at six of the state&apos;s seven casinos. (<strong>Hollywood Casino at Penn National Race Course<\/strong> is excluded; it wasn&apos;t open a year ago.) That&apos;s $126 million against $110 million, even with one less day in the month, which is divided 55\/45 between the state and operators. A 1,578-machine increase in slots, mostly at Mohegan Sun at Pocono Downs really helped, too, as you&apos;ll see.<\/p>\n<p>The comparisons of gross-revenue (not to be confused with cash flow, which can be considerably less) are as follows &#8230;<\/p>\n<p><strong>Mohegan Sun @ Pocono Downs<\/strong>: $12.4 million\/$17.8 million (44%)<\/p>\n<p><strong>Philadelphia Park<\/strong>: $28.5 million\/$30.3 million (6%)<\/p>\n<p><strong>Harrah&apos;s Chester<\/strong>: $28.5 million\/$27.9 million (-2%)<\/p>\n<p><strong>Presque Isle Downs<\/strong>: $12.1 million\/$13.9 million (15%)<\/p>\n<p><strong>The Meadows<\/strong> [<strong>Cannery Casino Resorts<\/strong>]: $17 million\/$20.6 million (20%)<\/p>\n<p><strong>Mount Airy Resort<\/strong>: $11.6 million\/$15.3 million (32%)<\/p>\n<p>Plus another $19.7 million realized at Penn National. Once expansions are completed at The Meadows and Philadelphia Park (more bad news for Harrah&apos;s Chester), and <strong>Sands Bethlehem<\/strong> and <strong>Rivers Casino<\/strong> in Pittsburgh open, the state expects the annual take to swell to $2.25 billion, with industry employment growing to 8,500 souls.<\/p>\n<p>Three-fourths of the value of the troubled, $1.7 billion Cannery\/<strong>Crown Ltd<\/strong>. deal now rests on The Meadows. Crown says it expects an annual cash flow contribution to be $115 million versus only $35 million from the two Canneries in Las Vegas. If New Yorkers really are willing to drive an hour and 50 minutes to pull the slot handles in Bethlehem, then <strong>Sheldon Adelson<\/strong>&apos;s 17% projected ROI won&apos;t be as zany as it appeared at first blush.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Casino revenues in the Keystone State leapt 14% from February of Leap Year to this year, at least at six of the state&apos;s seven casinos. (Hollywood Casino at Penn National Race Course is excluded; it wasn&apos;t open a year ago.) &hellip; <a href=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/big-bounce-in-pennsylvania\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[73,7,96,91,69,95,12,31,20],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/163"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=163"}],"version-history":[{"count":0,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/163\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}